Search for question
Question

In 2020, founder and CEO Matt Gilmore commenced business as Gilmore & Co., Inc., a producer of rather exquisite expensive baseball caps.Since he took Fundamentals of Accounting, he knew that a good accounting team was necessary in order to be successful in his new venture.He has asked you to handle the accounting for his new business. For the year ending 12/31/20, he had the following transactions:

1. Acquired $15,000 cash from the issue of common stock.

2. Sold $18,000 of fancy hats on account with Major League Baseball.

3. Received cash of $6,000 for sales from the NBA.

4. Collected $11,000 cash from the accounts receivable with Major League Baseball.

5. Paid $1,400 cash to purchase supplies needed to make his special Houston Astro caps.

6. Received $3,600 cash in advance from the NFL for sales of hats to be delivered in the future.

7. Had $100 of supplies on hand at the end of the year.

8. Paid cash of $6,500 for salaries expense

9. Incurred $2,800 of other operating expenses on account.

10. Delivered one-half of the sales agreed to in event 6

11. Paid $2,100 cash on the account payable created in event 9.

12. Paid a $1,000 cash dividend to the stockholders.

REQUIRED Show the effects of the events above on the horizontal statements model provided. In the Cash Flows column, use the letters OA, FA or IA to indicate what type of activity it is.

The total amount of extra credit will be 12.Each line represents 1 point. Each line must be fully correct to earn that 1 point. Missing an entry in any column will cause the entire line to be incorrect.

The Income Statement, Balance Sheet & Statement of Cash Flows is presented as well. Completing those correctly will earn you and additional 8 points.

Fig: 1


Most Viewed Questions Of Mechanics

4.5 Two dogs pull horizontally on ropes attached to a post; the angle between the ropes is 60.0°. If dog A exerts a force of 270 N and dog B exerts a force of 300 N, find the magnitude of the resultant force and the angle it makes with dog A’s rope.


The acceleration of a rocket traveling upward is given by a =(6 + 0.02s)m/s², where s is in meters. Determine the time needed for the rocket to reach an altitude of s =100m. Initially, v=0 and s= 0 when t = 0.


A daring 510 N swimmer dives off a cliff with a running horizontal leap, as shown in the figure. What must her minimum speed be just as she leaves the top of the cliff so that she will miss the ledge at the bottom, which is 1.75 m wide and 9.00 m below the top of the cliff?


II) A high-speed drill reaches 2000 rpm in 0.50 s. ! What is the drill's angular acceleration? Through how many revolutions does it turn during this first0.50 s?


An athlete runs along a straight road. She starts from rest and moves with constant acceleration for 5 seconds, reaching a speed of 8 m s-!. This speed is then maintained forT seconds. She then decelerates at a constant rate until she stops. She has run a total of 500 min 75 s. (a) Sketch a speed-time graph to illustrate the motion of the athlete. (a) Sketch a speed-time graph to illustrate the motion of the athlete. (b) Calculate the value of T.


A farmer hitches her tractor to a sled loaded with firewood and pulls it a distance of 27 m along level ground. The total weight of and load is 12,000 N. The tractor exerts a constant 6000-N force at an angle of 35.0° above the horizontal. There is a 8600 N nor force on the sled from the ground, and a 3500 N friction force opposing the sled's motion. Match each force with the expression or value that corresponds to the work it does on the sled. Each force has a only one correct match. Incorrect expressions must be matched to "No matching force". 1. Tension on the chain pulling the sled 2. Weight of the sled 3. Normal force from the ground on the sled 4. Kinetic friction on the sled 5. No matching force


2/123 During a short interval the slotted guides are designed to move according to x =16 – 12 t + 4t² and y = 2 + 15t – 3t², where x and y are in millimeters and t is in seconds. At the instant when t = 2 s determine the radius of curvature p of the path of he constrained pin P.


5. A car is 2.0 km west of a traffic light at t= 0 and 5.0 km east of a traffic light at t=6 min. Assume the origin of the coordinate system is the light and the positive x direction is eastward. (3 points) а.What are the car's position vectors at these two times? b. What is the car's displacement between 0 min and 6 min? What is the car's average velocity between the two points? Record your answer in terms of kilometres per hour.


9. Three charges with q = +7.5 × 10-6 C are located as shown in Figure 7, with L = 25 cm. Determine the magnitude and direction of the total electric force on each particle listed below. (a) the charge at the bottom (b) the charge on the right (c)an electron placed at the origin . Two pith balls, each with a mass of 5.00 g, are attached to non-conducting threads and suspended from the same point on the ceiling. Each thread has a length of 1.00 m. The balls are then given an identical charge, which causes them to separate. At the point that the electric and gravitational forces balance, the threads are separated by an angle30.0°. Calculate the charge on each pith ball. K ASS


In one type of computer keyboard, each key holds a small metal plate that serves as one plate of a parallel-plate, air-filled capacitor. When the key is depressed, the plate separation decreases and the capacitance increases. Electronic circuitry detects the change in capacitance and thus detects that the key has been pressed. In one particular keyboard,the area of each metal plate is 44.5 mm, and the separation between the plates is 0.71n mm before the key is depressed. Calculate the capacitance before the key is depressed. If the circuitry can detect a change in capacitance of 0.300 pF, how far must the key be depressed before the circuitrydetects its depression?